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General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.

Aston Martin ‘Power Beauty Soul’ European Tour

Aston Martin are taking the Vanquish, V12 Zagato and V12 Vantage Roadster on a PR tour of European Aston Martin dealers. For a car company with limited technical resources, one platform and two engines, Aston Martin are making a pretty good fist of launching new models. We’ve recently had the launch of the Aston Martin Vanquish – successor to the DBS – with a harder edge and a bigger price tag, the V12 Vantage Roadster with the glorious V12 where it should be – in the front of an open-topped car for aural joy – and the V12 Zagat0, a limited run collaboration with Zagato at three times the price of the donor car.

Chrysler, CAW reach tentative contract deal

The Canadian Auto Workers tentatively agreed tonight to new concessions that will save the struggling automaker $240 million annually and help the carmaker to try to avoid a bankruptcy filing, CAW President Ken Lewenza said at a news conference. In exchange, the CAW got Chrysler and potential partner Fiat SpA to agree to keep its two Chrysler assembly plants open even if bankruptcy is unavoidable, Lewenza said. General Motors and Ford Motor Co., which signed new CAW agreements earlier, have indicated their desire to get the same concessions as those negotiated with Chrysler, Lewenza said.